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Keel Infrastructure(NASDAQ) KEEL

Market Cap$2.45BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2019)+348%
5 Year-3%
1 Year+238%
1 Month-29%
$4.06
+0.25%
+0.01Today
Keel Infrastructure last closing stock price
MetricPriceDate
Last closeUSD 4.052026-07-30
Keel Infrastructure stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-15.8%USD 4.812026-07-23
1 month-29.44%USD 5.742026-06-30
3 month+31.07%USD 3.092026-05-01
Year to date+72.34%USD 2.352025-12-31
1 year+237.5%USD 1.202025-07-30
3 year+116.58%USD 1.872023-07-31
5 year-3.34%USD 4.192021-07-30
Since inception+347.51%USD 0.912019-08-16

Keel Infrastructure Financials at a Glance

Market Cap

$2.45BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$199.42M

Net Income (TTM)

-$394.02M

EPS (TTM)

-$0.65

P/E Ratio

-6.22

Dividend

$0.00

Beta (Volatility)

2.95 (High)

Price

$4.06

Volume

25,537,345.781

Open

$4.31

Previous Close

$4.05

Daily Range

$3.89 - $4.34

52-Week Range

$1.14 - $7.37

Estimated Earnings Date

N/A

KEEL News

GettyImages-1350722251-1200x675-128554e

Missed Out On Nebius? This Former Crypto Miner Might Be Your Second Chance.

Marc GubertiJul 31, 2026
STOCK-MARKET-DAILY-ONLY-BullBear-Green-Pink.png

Stock Market Today, June 26: Keel Infrastructure Rises as Convertible Financing Backs AI Data Center Push

Eric TrieJun 26, 2026
Data center (3)

This Former Bitcoin Miner May Be Sitting on a Hidden AI Opportunity

Lawrence NgaJun 5, 2026
GettyImages-2175694227-1201x899-8313029

This Small Crypto Miner Pivoting to AI Infrastructure Is Up by 75% This Year. Is It a Buy?

Marc GubertiMay 19, 2026
STOCK-MARKET-DAILY-ONLY-BullBear-Blue-Pink.png

Stock Market Today, May 11: Keel Infrastructure Jumps After Q1 Earnings Optimism

Josh Kohn-LindquistMay 11, 2026
STOCK-MARKET-DAILY-ONLY-BullBear-Blue-Pink.png

Stock Market Today, May 6: Keel Infrastructure Corp. Rises as Analyst Coverage Reframes Its Shift Toward Power-Backed AI Infrastructure

Eric TrieMay 6, 2026
person-in-ai-data-center

Should You Buy Bitfarms Before March 31?

Lyle DalyMar 24, 2026
data-center-construction

Could This $2 Stock Be Your Ticket to Millionaire Status?

Lyle DalyMar 6, 2026
Page 1

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About Keel Infrastructure

Keel helps companies run complex computer programs for artificial intelligence. It builds and owns data centers, which are large buildings full of powerful computers. The company also earns digital money by validating transactions on the Bitcoin network.

The Product Menu

  • Bitcoin Mining: Specialized computers used to validate digital currency transactions; earned $29.9 million in revenue during Q1 2026.
  • Energy Sales: Electricity sold back to power grids or other buyers; generated $5.9 million in Q1 2026.
  • HPC and AI Infrastructure: Data centers and energy systems built to host high-speed computing and artificial intelligence work.
  • Electrical Services: Technical support and service work for power systems; generated $537,000 in Q1 2026.
  • Cryptocurrency Hosting: Space and power provided for third parties to run their own mining computers; earned $691,000 in Q1 2026.

Major Moves and Changes

  • Acquired Stronghold Digital Mining, Inc. in March 2025 to add power plants and new data center sites in Pennsylvania.
  • Rebranded from Bitfarms Ltd. to Keel Infrastructure Corp. in April 2026 after moving its legal home to the United States.
  • Sold the Yguazu data center in Paraguay to HIVE Digital Technologies Ltd. in March 2025 to focus on North American projects.
  • Repaid a $300 million credit facility with Macquarie in February 2026 to clear debt related to project development.

What Makes Keel Different?

Keel stands out by owning its own power plants, which allows it to control energy costs and sell extra power back to the grid. The company also generates environmental credits from its energy operations to help offset its business expenses.

Tracking the Financial Path

  • Revenue was $37 million for the quarter ended March 31, 2026, compared to $47.7 million for the same period in 2025.
  • Net loss hit $145.4 million in Q1 2026, worsening from a loss of $55.6 million in Q1 2025.
  • Operating cash flow reached negative $64.7 million for the three months ended March 31, 2026, compared to negative $18.8 million in the first three months of 2025.
  • Free cash flow was negative $75 million in Q1 2026, down 13% from negative $66.4 million in Q1 2025.

Bottom Line

Keel has evolved from a digital currency miner into an infrastructure firm that supports high-speed computing and energy management. Its shift toward North American data centers aligns with the rising demand for artificial intelligence services.

AI Generated • May 24, 2026

Industry

Software

Sector

Information Technology

Employees

274

CEO

Benjamin Gagnon

Headquarters

New York, NY 10004, US

KEEL Financials

Key Financial Metrics (TTM)

Gross Margin

-22.40%

Operating Margin

-85.44%

Net Income Margin

-197.58%

Return on Equity

-69.94%

Return on Capital

-12.02%

Return on Assets

-36.94%

Earnings Yield

-16.08%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$2.45BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

603.83M

Volume

25.54M

Avg. Volume

45.66M

Financials (TTM)

Gross Profit

-$44.67M

Operating Income

-$170.38M

EBITDA

-$52.51M

Operating Cash Flow

-$272.70M

Capital Expenditure

-$62.80M

Free Cash Flow

-$335.50M

Cash & ST Invst.

$357.28M

Total Debt

$590.97M

Keel Infrastructure Performance Analysis

Keel Infrastructure annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 142,428,000-16.0%
20232023-12-31USD 146,366,0002.8%
20242024-12-31USD 133,274,000-8.9%
20252025-12-31USD 229,276,00072.0%
Keel Infrastructure sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-3016.4%
Q32025-09-30-11.0%
Q42025-12-31-77.8%
Q12026-03-31140.5%
Keel Infrastructure annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -0.85N/A
20232023-12-31USD -0.42-50.9%
20242024-12-31USD -0.07-83.5%
20252025-12-31USD -0.53667.8%
Keel Infrastructure sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-3027.6%
Q32025-09-30-169.7%
Q42025-12-31-85.7%
Q12026-03-317.7%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q1 2026YOY CHG

Revenue

$36.99M

-44.7%

Gross Profit

-$26.31M

-4753.3%

Gross Margin

-71.11%

N/A

Market Cap

$2.45BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$8.93M

N/A

Employees

274

N/A

Net Income

-$145.35M

-305.2%

EBITDA

-$25.45M

-28693.3%

Quarterly Fundamentals

Name
Q1 2026YOY CHG

Total Cash

$357.28M

+169.3%

Total Debt

$590.97M

+2200.6%

Accounts Receivable

$5.36M

-83.7%

Inventory

$10.41M

+113.1%

Long Term Debt

$584.94M

+2576.8%

Short Term Debt

$6.04M

+57.3%

Return on Assets

-36.94%

N/A

Return on Invested Capital

-16.92%

N/A

Free Cash Flow

-$75.01M

-13.0%

Operating Cash Flow

-$64.69M

-248.1%

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Questions About KEEL

What is the current price of Keel Infrastructure?

Keel Infrastructure is trading at $4.07 per share.

What is the 52-week range for Keel Infrastructure?

Over the past 52 weeks, Keel Infrastructure has traded between $1.14 and $7.37.

How much debt does Keel Infrastructure have?

As of the most recent reporting period, Keel Infrastructure reported total debt of $590.97M.

How much cash does Keel Infrastructure have on hand?

Keel Infrastructure reported $357.28M in cash and cash equivalents in its most recent financial results.

What is Keel Infrastructure’s dividend yield?

Keel Infrastructure does not currently have a dividend yield.

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